Resident Qualification Requirements

Checklist

last updated: 6/9/2025

Important Disclaimers

  • By submitting an application, all applicants authorize Sylvan Homes to verify employment status (income), background, credit, and rental history from reporting agencies.
  • Application fee is $66.95 per applicant and is non-refundable.
  • Sylvan Homes strongly encourages applicants to tour the home before applying.
    • If an applicant submits an application before touring the home and later decides not to proceed, the application fee will not be refunded.
  • Submission of an application does not guarantee approval or constitute a lease offer.
    • All homes are leased on a first-approved basis in compliance with fair housing laws.
  • Sylvan Homes’ minimum lease term is 12 months.
  • Deposits and holding fees are non-refundable, except in cases where:
    • Sylvan Homes cannot provide possession of the home within the agreed lease terms.
    • Security deposits are subject to deductions for damages upon move-out, per applicable laws.

Holding Fee

  • The holding fee is due in full at lease signing and is equal to 1x-1.5x the monthly rent.
  • Approved applications remain valid for 30 days and may be transferred to another available Sylvan Home if the original property is no longer available.

Liability Insurance Requirement

  • Residents must obtain sufficient liability insurance.
  • Acceptable options include our Damage Liability Waiver program ($17.00 per month) or securing third-party liability insurance.
    • Residents are auto-enrolled in the Damage Liability Waiver program at the start of the lease.
    • This coverage does not extend to pets or personal property, which may require a third party renters’ insurance or other similar insurance policy.

Move-In Requirements

  • The desired move-in date must be at least 5 days but no more than 14 days from the date of application approval.
  • Requests for move-ins in less than 5 days are subject to home availability.

Occupancy Guidelines

  • Maximum occupancy: 2 persons per bedroom, plus one additional occupant per home.
  • Local and state laws may affect occupancy limits.

Age Requirement

  • All occupants 18 years or older must complete an application and meet screening requirements.

Credit & Screening Criteria

  • Screening consists of reviewing information in the applicant’s consumer credit report, applicable rental history, and other relevant data.
  • Applicants who are below Sylvan Homes’ screening thresholds may be required to provide additional security deposit or a qualified co-signer.
  • Approved applications: Require a 1-month’s rent security deposit.
  • Conditionally approved applications: May require 1.5x month’s rent security deposit.
  • Guarantor option: Available if the applicant does not meet screening requirements. Guarantor must:
    • Have a FICO score of 620+
    • Show a net monthly income 4x the monthly rent
    • Pay a 1.5x month rent security deposit

Income Verification

  • Applicants must earn at least 2.5x the monthly rent in net income.
  • Required proof of income:
    • Pay stubs: weekly: last 4; bi-weekly/monthly: last 2
    • Bank statements: 60 days, depending on income source
    • Housing Choice Voucher
      • Must submit a current, unexpired voucher matching the unit size and rent.
      • Voucher must be valid as of the application decision date.
      • Applicants must demonstrate a monthly adjusted income of at least 3x their portion of the rent as determined by the voucher.
        • This requirement applies only to the resident’s portion of the monthly rent, not the full monthly rent amount.
      • Sylvan Homes is compliant with the Housing Choice Voucher Program Section 8. For information on the program, please visit: Housing Choice Vouchers Fact Sheet
    • Alternative income documentation: Retirement benefits, SSA/SSI, Disability, GI benefits, Alimony, Child Support, Tax returns.
    • Self-Employed:
      • Must provide proof of business ownership: Tax return, Business license, Articles of Incorporation, etc.
      • Must submit 6 months of itemized personal bank statements.
    • Savings/Retirement-Based:
      • Must show a minimum average ending balance of 3x the total rent for the full lease term (e.g., $1,200/month rent requires $43,200 in savings).

Disqualifying Factors

  • Rental History:
    • Outstanding rental balances of $500+
    • Applications will be declined if there are two or more eviction-related judgments (e.g., FED or writs of judgment) within the past 5 years, with the most recent occurring within the past 18 months. Exceptions may apply if the judgment has been paid and officially released.
  • Bankruptcy:
    • Any bankruptcies within 7 years
  • Criminal History:
    • Financial crimes (fraud, identity theft)
    • Crimes against minors
    • Violent crimes (homicide, kidnapping, etc.)
    • Registered sex offenders (Megan’s Law)
    • Other misdemeanors/felonies evaluated case-by-case

Holding Fee & Security Deposit

  • Determined based on screening results.
  • Payment methods: Sylvan Homes portal, bank account, credit/debit card, or approved voucher certificate.
  • All deposits and other prepayments must clear at least 72 hours prior to move-in.
  • The holding fee converts to a security deposit at lease start.

Pet Policy

  • Maximum of 3 pets per household: dogs, cats, small caged pets, fish.
  • Pet verification screening is required upon application, along with a non-refundable application fee of $25 per pet.
  • Fees for dogs and cats:
    • $325 non-refundable fee per pet
    • $40 monthly pet rent per pet
  • Restricted breeds:
    • Akita, American Bully, American Bulldog, American Pit Bull Terrier, Belgian Malinois, Bull Mastiff, Chow, Doberman Pinscher, German Shepherd, Bergamasco Shepherd, Caucasian Shepherd, Alaskan Malamute, Great Dane, Husky, Pit Bull, Presa Canario, Rottweiler, Staffordshire, Wolf, or any mix of the above breeds.
    • Venomous animals of any type are prohibited.
    • Livestock of any type is prohibited.
  • Pet weight/size restrictions may apply per home.
  • Some dogs may require a veterinarian letter confirming non-aggressive behavior.
  • Photos of all pets required.
  • Dog owners must provide proof of separate insurance providing dog bite liability coverage.
    • This is not covered by the Damage Liability Waiver Program.

Service Animal & ESA Policy

  • Sylvan Homes proudly complies with the ADA and Fair Housing Act.
  • Service animals & ESAs do not incur pet fees, deposits, or additional insurance requirements.
  • Documentation required: ESA or service animal letter from a licensed medical provider dated within the last 6 months.